This notification, S.O. 3356(E), issued by the Ministry of Finance, Department of Revenue, specifies Cash Replenishment Agencies (CRAs) and franchise agents of White Label Automated Teller Machine Operators (WLATMOs) under clause (v) of the proviso to section 194N of the Income-tax Act, 1961. This specification applies to CRAs and franchise agents maintaining a separate bank account exclusively for replenishing cash in ATMs operated by WLATMOs. To qualify, the WLATMO must furnish a monthly certificate to the bank, confirming that the bank account of the CRAs and franchise agents has been examined and that withdrawals reconcile with cash deposited in their ATMs. The notification is effective from September 1, 2019. The notification number is 68/2019 and the F. No. is 370142/12/2019-TPL. Saurabh Gupta, Under Secretary, Tax Policy and Legislation Division, is the contact person.
Key Entities Referenced
Ministry of Finance: The Indian government ministry responsible for the economy, finance, taxation, and financial institutions.
New Delhi: The capital of India, where the notification was issued.
September 18, 2019: The date of the notification.
Income-tax Act, 1961: The primary law governing income tax in India.
Central Government: The government of India.
Reserve Bank of India: The central bank of India, consulted in the notification.
Cash Replenishment Agencies (CRAs): Entities specified in the notification that replenish cash in ATMs.
White Label Automated Teller Machine Operators (WLATMOs): Operators of ATMs, specified in the notification.
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4850 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 18th September, 2019
INCOME-TAX
S.O. 3356(E).—In exercise of the powers conferred by clause (v) of proviso to section 194N of the
Income-tax Act, 1961 (43 of 1961), the Central Government after consultation with the Reserve Bank of
India, hereby specifies Cash Replenishment Agencies (CRA’s) and franchise agents of White Label
Automated Teller Machine Operators (WLATMO’s) maintaining a separate bank account from which
withdrawal is made only for the purposes of replenishing cash in the Automated Teller Machines (ATM’s)
operated by such WLATMO’s and the WLATMO have furnished a certificate every month to the bank
certifying that the bank account of the CRA’s and the franchise agents of the WLATMO’s have been
examined and the amounts being withdrawn from their bank accounts has been reconciled with the amount of
cash deposited in the ATM’s of the WLATMO’s.
2. The notification shall be deemed to have come into force with effect from the 1st day of
September, 2019.
[Notification No. 68/2019/F. No. 370142/12/2019-TPL]
SAURABH GUPTA, Under Secy. (Tax Policy and Legislation Division)
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective
effect to this notification.
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